HAU WANG: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
HAU WANG
Largest movements
- Cash +€48,906
up €48,906 (+102%), from €47,913 to €96,819
mainly Receivables after one year (+€20,224) and Net result for the year (+€11,279)
- Receivables after one year -€20,224
down €20,224 (-37.8%), from €53,459 to €33,234
- Tangible fixed assets -€4,841
down €4,841 (-22.7%), from €21,287 to €16,446
of which Furniture and vehicles: -€3,909
- Receivables within one year -€2,422
down €2,422 (-16.8%), from €14,377 to €11,955
- Reserves +€11,250
up €11,250 (+18.8%), from €60,000 to €71,250
- Tax, wage and social debts +€4,946
up €4,946 (+55.9%), from €8,853 to €13,798
of which Taxes: +€4,653
- Trade debts +€3,505
up €3,505 (+119%), from €2,935 to €6,441
- Depreciation +€3,619
up €3,619 (+238%), from €1,522 to €5,141
- Gross operating margin -€2,829
down €2,829 (-11.4%), from €24,817 to €21,988
- Taxes +€2,600
up €2,600 (+57.5%), from €4,523 to €7,123
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €191,783 | €211,521 | +€19,737 | +10.3% |
| Fixed assets | 21/28 | €22,570 | €17,429 | -€5,141 | -22.8% |
| Intangible fixed assets | 21 | €985 | €685 | -€300 | -30.5% |
| Tangible fixed assets | 22/27 | €21,287 | €16,446 | -€4,841 | -22.7% |
| Plant, machinery and equipment | 23 | €2,018 | €1,087 | -€932 | -46.2% |
| Furniture and vehicles | 24 | €19,269 | €15,359 | -€3,909 | -20.3% |
| Financial fixed assets | 28 | €298 | €298 | = | 0.0% |
| Current assets | 29/58 | €169,213 | €194,092 | +€24,879 | +14.7% |
| Amounts receivable after more than one year | 29 | €53,459 | €33,234 | -€20,224 | -37.8% |
| Other amounts receivable | 291 | €53,459 | €33,234 | -€20,224 | -37.8% |
| Stocks and contracts in progress | 3 | €1,760 | €1,991 | +€231 | +13.1% |
| Stocks | 30/36 | €1,760 | €1,991 | +€231 | +13.1% |
| Amounts receivable within one year | 40/41 | €14,377 | €11,955 | -€2,422 | -16.8% |
| Other amounts receivable | 41 | €14,377 | €11,955 | -€2,422 | -16.8% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €47,913 | €96,819 | +€48,906 | +102% |
| Deferred charges and accrued income | 490/1 | €1,704 | €92 | -€1,612 | -94.6% |
| Total equity and liabilities | 10/49 | €191,783 | €211,521 | +€19,737 | +10.3% |
| Equity | 10/15 | €179,587 | €190,866 | +€11,279 | +6.3% |
| Contributions | 10/11 | €34,236 | €34,236 | = | 0.0% |
| Reserves | 13 | €60,000 | €71,250 | +€11,250 | +18.8% |
| Distributable reserves | 133 | €60,000 | €71,250 | +€11,250 | +18.8% |
| Profit (loss) carried forward | 14 | €85,351 | €85,380 | +€29 | 0.0% |
| Amounts payable | 17/49 | €12,196 | €20,654 | +€8,458 | +69.4% |
| Amounts payable within one year | 42/48 | €11,788 | €20,239 | +€8,451 | +71.7% |
| Trade debts | 44 | €2,935 | €6,441 | +€3,505 | +119% |
| Suppliers | 440/4 | €2,935 | €6,441 | +€3,505 | +119% |
| Taxes, remuneration and social security | 45 | €8,853 | €13,798 | +€4,946 | +55.9% |
| Taxes | 450/3 | €4,053 | €8,706 | +€4,653 | +115% |
| Remuneration and social security | 454/9 | €4,800 | €5,093 | +€293 | +6.1% |
| Accrued charges and deferred income | 492/3 | €408 | €416 | +€7 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,522 | €5,141 | +€3,619 | +238% |
| Other operating charges | 640/8 | €857 | €1,042 | +€185 | +21.6% |
| Gross operating margin | 9900 | €24,817 | €21,988 | -€2,829 | -11.4% |
| Operating profit (loss) | 9901 | €22,438 | €15,804 | -€6,634 | -29.6% |
| Financial income | 75/76B | €3,529 | €3,499 | -€30 | -0.9% |
| Recurring financial income | 75 | €3,529 | €3,499 | -€30 | -0.9% |
| Financial charges | 65/66B | €957 | €901 | -€56 | -5.9% |
| Recurring financial charges | 65 | €957 | €901 | -€56 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €25,010 | €18,402 | -€6,608 | -26.4% |
| Income taxes | 67/77 | €4,523 | €7,123 | +€2,600 | +57.5% |
| Profit (loss) for the period | 9904 | €20,488 | €11,279 | -€9,208 | -44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,488 | €11,279 | -€9,208 | -44.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.